GBPJPY Technical Analysis And Trade Idea 06-05-2018
Chart Time Frame : H4
Dragon closed above the EMA 50 of the H4 chart timeframe and SMA 5 of the daily chart. This indicates a starting of a bullish trend.
GBPJPY is trading at 146.600 as of writing. MM 4/8 Ultimate support / Trend Reversal of H4 Chart is located at 146.800. A Break above 146.800 will carry the price, 147.250, 147.600 and 148.400.
As seen in the below chart, the pair is likely to test the trend line.
So our trade idea is :
TRADE : LONG
TARGET 1: 147.200
TARGET 2: 148.200
UPDATE: TARGET REACHED 160 PIPS. You can view the original idea :
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money
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